The Pant Project, a direct-to-consumer (D2C) fashion brand specializing in custom-sized pants, has successfully raised $4.25 million in a Series A funding round. The round was led by Sorin Investments, a venture capital fund founded by former KKR India CEO Sanjay Nayar, which recently completed its final close at Rs 1,350 crore.
The funding round also saw participation from several prominent investors including MGA Ventures, Huddle, Dexter Ventures, and notable Indian Silicon Valley and angel investors such as Arjun Vaidya, Avni Biyani, Nikhil Bhandarkar, and Vijay Taparia. This investment marks The Pant Project’s first institutional funding since its inception in 2020.
With this infusion of capital, The Pant Project plans to enhance its omnichannel retail strategy, expand its team, boost technological capabilities, increase brand awareness, and grow its retail store presence. Co-founder Dhruv Toshniwal highlighted the company’s unique position in the market, stating, “Our biggest moat lies in our understanding of the apparel supply chain, with access to best in global quality fabrics and designs for our customers. We have data on custom fit for over 100,000 Indian men and are using that to constantly improve.”
The Pant Project, founded by Udit Toshniwal and Dhruv Toshniwal, initially started as an online retailer offering custom-sized pants tailored for Indian body types. The brand later expanded into the offline market with ready-to-wear pants. Currently, about 65% of its total sales come from its own e-commerce site, with significant traction also observed on platforms like Myntra and Amazon.
The company, which achieved a revenue of Rs 31 crore in FY24, aims to exceed Rs 100 crore in the next 18-24 months. “With this funding, we plan to grow our team, tech capabilities, brand awareness and retail store presence,” Dhruv Toshniwal added. He also emphasized that The Pant Project is profitable at a unit economics level and is committed to sustainable growth with sound fundamentals.
Dexter Capital Advisors served as the exclusive financial advisor to The Pant Project for this fundraising effort. As the company looks ahead, it plans to expand its offline store presence and diversify its product range, especially in the casual and athleisure categories.